The post Will Bitcoin Price Once Again Dip Below The $42k Levels? Here’s What Next For BTC Price appeared first on Coinpedia Fintech News
Cryptocurrency analyst Bitcoin Hypher warns of potential danger as Bitcoin experiences a bounce from recent lows. In a recent video, the analyst discussed the risk of a reversal after hitting a crucial price target.
The analysis suggests that while the recent move led to a 14% surge, signs of caution are seen due to declining trading volumes.
Bitcoin recently dipped below previous lows, successfully executing a liquidity grab with a massive liquidation spike of approximately $25 million, indicating a large number of traders being liquidated on the downside.
The analysis involves studying a higher time frame, specifically the daily chart using logarithmic scaling. The mid-level of a significant support and resistance channel was identified as a critical price target, which has already been reached.
A bearish indication is observed in the declining
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